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SHIB Is Among the Top 10 ETH Whales by 24hr Trading Volume

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SHIB Is Among the Top 10 ETH Whales by 24hr Trading Volume

    • Shiba Inu’s price has been bullish for the past seven days.
    • The live Shiba Inu 24-hour trading volume is $1,060,910,670.
    • SHIB is trading at $0.00001025, up 5.22 percent in the last 24 hours and 25.77 percent in the last week.

Shiba Inu (SHIB) has been exhibiting some bullish movement in the market, and the market as a whole has moved towards a big upward trend, which has resulted in an increase in the price of SHIB. The memecoin has now moved into the top 10 by trading volume among the top 100 ETH whales during the last twenty-four hours.

It’s possible that the inability of Shiba Inu (SHIB) to fall below $0.000007 enticed short sellers to book gains and aggressive bulls to begin purchasing. It’s possible that this was the cause of the significant uptick on June 21.

Traders were able to drive the price over the 20-day exponential moving average ($0.000010) but were unable to overcome the resistance at the 50-day simple moving average ($0.000012). This provides evidence that bears are waging a vigorous defense of the level.

The price of SHIB has moved beyond the $0.000001050 level today due to a strong rise that the price has been experiencing since yesterday, June 22. In addition, the cryptocurrency has upward potential and is now following an upward trend.

According to data by CoinMarketCap, SHIB is presently trading at $0.00001025 and has up 5.22 percent in the last 24 hours while increasing 25.77 percent in the previous seven days. SHIB is presently positioned as the 15th-largest cryptocurrency and has a current market valuation of $5,620,520,263.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CQ. No information in this article should be interpreted as investment advice. CQ encourages all users to do their own research before investing in cryptocurrencies.

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Cryptocurrency

Grayscale reports 99% of SEC comment letters support spot Bitcoin ETF

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Grayscale reports 99% of SEC comment letters support spot Bitcoin ETF

Digital asset manager Grayscale reported overwhelming support in public comments for its application to launch a spot Bitcoin exchange-traded fund.

In a Monday letter to investors, Grayscale said that of the more than 11,400 letters the United States Securities and Exchange Commission, or SEC, had received in regards to its proposed Bitcoin (BTC) investment vehicle, “99.96 percent of those comment letters were supportive of Grayscale’s case” as of June 9. According to Grayscale, roughly 33% of the letters questioned the lack of a spot BTC ETF in the U.S., given the SEC had already approved investment vehicles linked to Bitcoin futures, as was the case for ProShares and Valkyrie.

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SEC Chair Gary Gensler calls Bitcoin a commodity

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© Reuters SEC Chair Gary Gensler calls Bitcoin a commodity

In an appearance on CNBC’s Squawk Box on Monday, SEC Chairman Gary Gensler said that Bitcoin was the only cryptocurrency he was ready to publicly call a commodity.

Gensler aired his views while examining the implications of classifying certain cryptocurrencies as commodities rather than securities. He also addressed previous calls to ramp up the commission’s regulatory oversight of the crypto market.

According to Gensler, all the main market regulators in the US agree that cryptocurrencies are highly speculative. “This is a highly speculative asset class. We’ve known this for a long time the ups and downs of this speculative asset class — Bitcoin and hundreds of other tokens,” he said.

He goes on to note that the investing public expects a return from most of these digital assets like they would when they invest in securities. As a result, Gensler concludes that most tokens in the crypto market have the “key attributes” of securities, thereby putting them under the purview of the Securities and Exchange Commission.

Interestingly, Gensler opined that Bitcoin and a few other cryptocurrencies could be considered commodities.

Some, like Bitcoin, and that’s the only one, Jim, I’m gonna say because I’m not going to talk about any one of these tokens but my predecessors and others have said they’re a commodity.

Meanwhile, he called for fair disclosures in the crypto market, noting that the US was open to having hundreds of tokens legally operating in its market if they complied with SEC laws.

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Ethereum liquidity provider XCarnival negotiates return of 50% stolen ETH

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Ethereum liquidity provider XCarnival negotiates return of 50% stolen ETH

XCarnival, a liquidity provider for the Ethereum ecosystem, recovered 1,467 Ether (ETH) just a day after suffering an exploit that drained 3,087 ETH, worth roughly $3.8 million, from the protocol.

Blockchain investigator Peckshield noticed the XCarnival hack as it came across a stream of transactions that eventually bled 3,087 ETH from the protocol. Explaining the nature of the exploit, Peckshield stated:

Flowchart showing the transfer of the stolen XCarnival funds. Source: Peckshield
ETH wallet balance of the XCarnival hacker. Source: etherscan.io

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